Alan S. Blinder, Mohamed A. El-Erian, Jayati Ghosh, and more in Behind the Headlines

Also featuring Michael R. Strain, Ana Palacio, Shashi Tharoor, and more. [View this message in a web browser]( [PS Behind the Headlines]( DECEMBER 21, 2022 [The Myth of Income Stagnation]( [The Myth of Income Stagnation]( [Michael R. Strain]( shows how new data refute the conventional wisdom about wages and inequality in the United States. [PS Commentators’ Best Reads of 2022]( [PS Commentators’ Best Reads of 2022]( [Jason Furman]( [Antara Haldar]( [Harold James]( and more select the book that resonated with them the most over the past year. [What the World’s Most Important Company Must Do]( [What the World’s Most Important Company Must Do]( [Jason Hsu]( explains why TSMC must balance geographic diversification with the protection its chips provide for Taiwan. [PS Holiday Sale: Save $35 on any new PS subscription.]( Has the Fed Met the Inflation Challenge? The last year brought soaring inflation to the United States, prompting the US Federal Reserve to raise interest rates sharply. This week at PS, Alan S. Blinder and Mohamed A. El-Erian assess the Fed's performance in 2022 and predict what 2023 might bring. --------------------------------------------------------------- [The Use and Abuse of Inflation History]( [Alan S. Blinder]( explains why today’s Federal Reserve is in a vastly better position than the Fed of the early 1980s. --------------------------------------------------------------- [Another Annus Horribilis for the Fed]( [Mohamed A. El-Erian]( reflects on the US central bank’s compounding mistakes, and suggests how it can shape up in the new year. [Financial Deglobalization Must Come Next]( [Jayati Ghosh]( thinks low- and middle-income economies need to break free from international capital markets. [Europe Needs Energy Union]( [Ana Palacio]( urges EU leaders to confront the failures that have left the bloc without reliable, affordable energy supplies. [PS Big Question: Will 2023 Be a Year of Economic Crisis?]( [Will 2023 Be a Year of Economic Crisis?]( [Anat Admati]( [Jim O’Neill]( and [Eswar Prasad]( predict whether the global economy’s prospects will go from bad to worse in the coming year. [India’s Looming Demographic Divide]( [Shashi Tharoor]( examines the political implications of growing disparities between the country’s north and south. [Free Hong Kong's Fiercest Defender]( [Chris Patten]( condemns the Chinese puppet government’s crackdown on journalists and publishers – and on one in particular. [PS. Watch all the discussions from our latest hybrid event, Nature’s Moment.]( [Facebook]( [Twitter]( [LinkedIn]( Project Syndicate publishes and provides, on a not-for-profit basis, original commentary by the world's leading thinkers to more than 500 media outlets in over 150 countries. Receipt of this newsletter does not guarantee rights to re-publish any of its content. This newsletter is a service of [Project Syndicate](. [Change your newsletter preferences](. Follow us on [Facebook]( [Twitter]( and [YouTube](. © Project Syndicate, all rights reserved. [Unsubscribe from all newsletters](.